NEW
YORK, July 12, 2022 /PRNewswire/ -- Ashland
Place Finance LLC ("Ashland Place"),
a commercial aviation financing platform, and Crestone Air
Partners, Inc. ("Crestone"), a
full-service aviation asset management platform, today
announced the closing of an engine facility financing four CFM56
engines on lease to Cebu Air, Inc. (Philippines) and TUI Airways Limited (UK).
"We are pleased to welcome Crestone as a new member of our commercial
aviation financing platform," said Jennifer Villa, Ashland
Place's Executive Director and Group Head. "One of our
market differentiators has been our ability to drive successful
outcomes for a wide range of aviation sector companies, and we look
forward to continuing this trend with Crestone."
"At Crestone, we are proud of our partnerships across the
aviation landscape, and we have certainly found another great
partner in Ashland Place," said Kevin
Milligan, Principal, Head of Investments at Crestone. "We are excited to have closed this
latest transaction with Ashland
Place and value the business's support as we continue to
grow our business and maximize value for our customers."
Allen & Overy LLP served as legal counsel for Ashland Place, while Vedder Price LLP served as
legal counsel for Crestone in this
transaction.
About Ashland Place Finance
LLC
Ashland Place Finance LLC is an institutional financing platform
offering innovative capital solutions to the global commercial
aerospace industry. Ashland Place is
a wholly-owned subsidiary of Davidson Kempner Capital Management
LP. Additional information can be found at:
www.ashlandplace.com.
About Crestone Air Partners,
Inc.
Crestone Air Partners (CAP) invests in commercial jet aircraft
and the engines that power them on behalf of our capital partners.
We are a full-service aviation asset management platform with a
diverse portfolio of aircraft and engines leased to airlines
globally. We target transactions in the secondary market, focusing
on the last decade of the asset lifecycle. We take a collaborative
approach with our clients by offering flexible lease terms tailored
to our customers' requirements. Crestone brings unique value to transactions
by drawing on the expertise and capabilities of interrelated
aviation specialist subsidiary businesses across the Air T family
(airframe material sales, landing gear leasing, engine material
sales, disassembly, and aircraft storage). Crestone is headquartered in Denver, Colorado, and is a wholly owned
business unit of Air T, Inc. holding company (NASDAQ: AIRT).
Additional information can be found at:
www.crestoneairpartners.com.
Media Contacts:
Ashland
Place
Mary Beth Grover
/ Keely Gispan
mbgrover@ascadvisors.com / kgispan@ascadvisors.com
Crestone
Kevin Milligan
k.milligan@crestoneairpartners.com
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SOURCE Ashland Place Finance LLC
